Crypto
Canada Completes Tokenized Bond Blockchain Pilot with Mixed Results
The Bank of Canada has completed its Project Samara, a blockchain experiment that issued Canada's first tokenized bond on a distributed ledger platform.
The pilot found operational efficiency gains but warned that broader adoption will likely be slow due to integration challenges and gaps in the regulatory framework.
Export Development Canada (EDC) issued a single three-month CA$100 million bond to a closed investor group on the Samara Platform. TD Bank served as joint lead manager, and RBC Investor Services provided bond reconciliation.
The BoC built Samara on Hyperledger Fabric to handle the full bond lifecycle - issuance, bidding, coupon payments, redemptions, and secondary trading - on a single permissioned ledger.